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Where to Find the Money in AsiaBy
Monday, August 18, 2008
"Yum sing!" yelled everyone at my table. Ten days ago, I flew to Kuala Lumpur, Malaysia to begin a 10-week tour of Asia. I'm visiting seven Asian countries – including China, Taiwan, and India – and I'll report back all the investment opportunities I find. Vinod Sekhar owns the Petra Group, a conglomerate with interests in technology, movies, the Internet, financial software, and rubber. With a $350 million fortune, according to Forbes, Vinod is the 16th richest person in Malaysia. He's the youngest millionaire on Forbes' rich list.
Last weekend, I went to Vinod Sekhar's 40th birthday party. The party was at the old British High Commission building in Kuala Lumpur, in a huge marquee in the back garden. All Malaysia's most important businesspeople were there. Then on Monday morning, I met Vinod at his office to ask him some questions about his fortune... I had a few minutes to look around Vinod's seventh-floor, corner office before he arrived. The office had no outside walls... just floor-to-ceiling windows with a view of downtown Kuala Lumpur. Just as I expected, his office was full of expensive stuff... like art and collectibles and handmade furniture. He had cricket bats signed by the entire English cricket team hanging on the wall. "The big companies are all here," he said. "They've figured this out already. You don't want to compete with them. But there's a huge gap in small- and medium-sized businesses. Very few American small businesses have relocated to Asia. It's too much risk for a small business... and too much upheaval. So I'd find products and services offered by small businesses and make them here. America has millions of small businesses. Small business represents 60% of America's economy."
"Vietnam," he said. "And then go to Cambodia to compare it."
Good investing, Tom
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